29th March 2019 – Bangkok. Constant Energy is pleased to announce that it has executed a Memorandum of Understanding with SCG Cement to deploy 50 MW of solar PV plants under Corporate Power Purchase Agreements for numerous factories of the Group in Thailand, as well as several companies that SCG will introduce to Constant Energy.
Siam Cement Group (SCG) is a leading business conglomerate in ASEAN region, and one of the most respected diversified industrial Group in Thailand. SCG was established in 1913 following a royal decree of His Majesty King Rama VI to produce cement, the main building material for infrastructure projects that greatly contributed to the progress of the country during that period. It is 30% owned by the Crown Property.
The target is to deploy and commission the designated portfolio of solar PV plants over the next 3 years, through rooftop-based, ground-mounted, and floating solar PV plants located in multiple provinces across Thailand (such as Saraburi, Lopburi, Samut Prakan, Rayong, Songkhla, Buriram). For this Corporate PPA business, renewable power will be supplied directly from the Constant Energy solar PV plants located on the factories’ premises.
“I had the chance 20 year ago to negotiate and conclude a joint investment for a 120 MW cogeneration power plant with Siam Cement Group (Nong Khae Cogeneration) which is still operating successfully today and servicing industrial customers with high quality low cost steam and power. Siam Cement and its team have been great partners to work with. I am excited to execute this MOU today with Siam Cement to provide even lower cost power, this time through our zero-carbon emission PV power plant for at least the next 20 year.” said Franck Constant, CEO of Constant Energy. Romain Maire, Managing Director for Southeast Asia, added: “we are honored to be selected and team up with this prestigious, long established, multi factory, green minded, and leading industrial player in Thailand and the region. This MOU is strengthening our already fast growing Corporate PPA footprint in Asia.”
Somchai Pupipatphol, New and Advance Materials and Energy Director of SCG Cement said: “We hope to have a good collaboration for this business, as well as a good relationship among our teams between SGC and Constant Energy. Such business is expected to have a good progress in the future.”
Engineering of a first solar PV plants has already started, and the pre-construction permitting and licensing process will be handled in the second quarter this year, following by construction. The renewable power generation arising from 50 MW of solar power capacity will result in a reduction of CO2 emissions of approximately 47,900 Tons per year.
About Constant Energy
Constant Energy is a renewable electricity generation and storage investment platform which invests in and manages high-quality power assets in selected countries. As a solar developer and Independent Power Producer (IPP), we develop, design, finance, build, own and operate utility-scale and large industrial rooftop-based solar PV power plants. Our team is specialized and experienced, and directly manages its international assets with a long-term outlook. We firmly believe that only a local and active asset management can achieve the targeted return on a long-term basis. For more information, please visit www.constantenergy.net
About Siam Cement Group
The Siam Cement Group Public Company Limited is the largest and oldest cement and building material company in Thailand and Southeast Asia. In 2016, SCG was also ranked as the second largest company in Thailand and the 604th largest public company in the world by Forbes. The company is SET50 and SETHD-listed and an industry benchmark. The company’s major shareholder is the Crown Property Bureau, which owns 30 percent of Siam Cement’s shares. For more information, please visit www.scg.com